answers are not resolving

[dy60609]

Edit:

I obviously did not state my problem in a way that it can be understood/answered.

Thanks for the effort.

[mam98031 · Accepted solution]

The number on the 1099K has always been Gross Receipts NOT sales.  That means that the number is the total amount of MONEY that came INTO your MP account during 2024.

You need to reconcile this to arrive at your Gross Sales.  The number on the form does NOT take into considerations fees paid, shipping paid or refunds given to buyers throughout the year.

There is a detailed report you can generate to reconcile your numbers.

https://www.ebay.com/sh/fin/taxdetails

https://www.ebay.com/sh/fin/reportslanding

[threelittlelambs]

The 1099K amount includes only the sale price and shipping amount received, but not tax. And returns and refunds are not deducted so you have to figure those things out yourself as well as all other deductions and enter them on the appropriate tax forms.

[luckythewinner]

The 1099-K is gross payments processed (less sales tax),  not "amount of sales". It is not adjusted for refunds or returns.

It is based on the date the payment was processed to eBay, not the date of the sale nor the date of the payout. 

[stainlessenginecovers]

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@luckythewinner wrote:

The 1099-K is gross payments processed (less sales tax),  not "amount of sales". It is not adjusted for refunds or returns.

It is based on the date the payment was processed to eBay, not the date of the sale nor the date of the payout. 

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Clearest, short and sweet- most precise response I've ever seen. 

[kh-jean]

Hi everyone,

This thread has been closed at the request of the OP.

Thank you for understanding.